Full question:
I currently own a house with my wife. It is marital property as it was acquired after we got married. We are moving out and I would like to rent the house. Do we both (my wife and I) need to sign the paper work to generate a legally binding contract with a tenant? Would one of the owners (either her or I) alone be able to rent the house to a qualified tenant without the other's signature?
- Category: Marriage
- Subcategory: Marital Property
- Date:
- State: National
Answer:
Typically, a husband and wife who both own a home are joint tenants or tenants by the entireities. The language of the deed will determine whether the form of ownership. It is possible for the deed to state that the property is held as tenants in common, in which case, each tenant may transfer his/her separate interest without the consent of the other tenant. Although a joint tenant may not convey or otherwise encumber another joint tenant's interest in property without the authorization or consent of the co-tenant, one may deal with strangers as freely as owners of property held individually, and may convey or otherwise encumber
one's own interest in the property without the consent of the other joint tenant.
Generally, when one joint tenant leases her own interest in the common property to another without the consent of the other joint tenant, the lessee succeeds to the rights of the lessor, and is entitled to enjoy the possession of the property with the other joint tenant just as fully as the lessor would but for the lease.
Conversely, the lessee may not demand exclusive possession as against the non-joining co-tenant, and has no right to deprive the other owner of a concurrent and equal use of the premises.
A lease made without the other joint tenant's consent or authority is deemed valid and for the benefit of both joint tenants, and if the no-nconsenting joint tenant does not ratify the lease, the leasing joint tenant is liable to account to the other joint tenant for receiving more than the proper portion of the rents and profits during the lease period.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
